Ground-Breaking Software Portfolio for Capturing Profit Opportunities in Petroleum Operations to be Unveiled at AspenWorld 2004
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Aug. 25, 2004--
Global petroleum industry business and IT leaders to discuss new ways to visualize, analyze and optimize decisions and assets in Orlando, Florida, October 10-15, 2004
Aspen Technology, Inc. (Nasdaq: AZPN), today announced that a revolutionary software portfolio for Enterprise Operations Management (EOM) in downstream petroleum will be revealed at AspenWorld 2004, October 10-15, 2004, in Orlando, Florida. This new offering addresses the key business areas in the downstream petroleum industry - including plant operations; engineering and innovation; supply, distribution and trading; regional planning; and fuels marketing - and supports the industry's drive to achieve operational excellence.
AspenWorld 2004 features a comprehensive program focused on process industry issues and challenges. Among industry leaders participating in the plenary session of the petroleum track, "From Crude Oil to Fuel: Challenges in Downstream Petroleum", are Xianghong Cao, Senior Vice President, Sinopec; Tony Considine, Executive Vice President, TNK-BP; and Jerry Thompson, Chief Operating Officer, CITGO Petroleum Corporation. The plenary presentations will be followed by five sessions that explore the business processes in the downstream petroleum industry and describe how companies are applying best practices and innovative techniques to reduce costs, increase return on capital employed, and drive sustainable competitive advantage:
-- Executive Roundtable -- speakers from the plenary session entertain impromptu questions from the audience in an executive panel discussion -- Petroleum IT Issues -- three downstream petroleum CIOs and IT leaders discuss topics such as "What did work in e-business?" and "What are the coming trends in IT for downstream petroleum?" -- Business and Technology Breakthroughs in Downstream Petroleum -- details of the innovations that have made a difference for petroleum companies over the past two years -- Operational Excellence in Downstream Petroleum -- producers outline how to achieve operational excellence through logistics process optimization, LP modeling, coordinating planning and scheduling activities in primary distribution, and automating a terminal nomination system -- Engineering Models: Profit from Process Understanding -- includes in-depth presentations on gas-to-liquids (GTL) process modeling, dynamic simulation for a propylene/propane splitter, using an crude assay database for making refining decisions, and creating value with multi-unit rigorous models.
"Petroleum manufacturers are increasingly turning to their operations for the next major improvement in margins," said David McQuillin, President and CEO of AspenTech. "AspenWorld 2004 will enable companies to see how industry leaders are using the latest generation of technology solutions to help achieve operational excellence across their downstream operations, from supply and trading, through the refinery, to marketing and distribution."
The downstream petroleum industry track is part of an AspenWorld 2004 (www.aspenworld2004.com) program which includes nearly 300 presentations from companies such as Shell, BP, ChevronTexaco, ExxonMobil, and Total; a showcase of AspenTech's solutions for Enterprise Operations Management (EOM); and a conference agenda that offers opportunities for valuable discussions, learning experiences, and mixing with industry peers. To view the AspenWorld 2004 program and build your own agenda, visit www.aspenworld.2004.com/myagenda/.
Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to increase efficiency and profitability. AspenTech's engineering product line is used to design and improve plants and processes, maximizing returns throughout an asset's operating life. Its manufacturing/supply chain product line allows companies to increase margins in their plants and supply chains, by managing customer demand, optimizing production, and streamlining the delivery of finished products. These two offerings are combined to create solutions for enterprise operations management (EOM), integrated enterprise-wide systems that provide process manufacturers with the capability to dramatically improve their operating performance. Over 1,500 leading companies already rely on AspenTech's software, including Shell, BP, ChevronTexaco, ExxonMobil, Total, Aventis, Bayer, BASF, The Dow Chemical Company, DuPont, Fluor, and GlaxoSmithKline. For more information, visit www.aspentech.com.
AspenTech and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
CONTACT: Aspen Technology, Inc.
Robin Swanger, 281-504-3256
Joshua Young, 617-949-1274
SOURCE: Aspen Technology, Inc.